Forex 123 Pattern Day Scalping Strategy
From the Old Kings archive: Forex 123 Pattern Day Scalping Strategy, an indicator for MetaTrader 4. Judging by its name, it is built around candlestick patterns and short scalping trades. In the code it works with ZigZag. It draws arrows on the chart and can send alerts. It has 21 settings, for example Notes (default 15pip RangeBars Basic Se), Zig Zag Depth (default 1) and Retrace Depth Min (default 0.4). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 11 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex 123 Pattern Day Scalping Strategy
Forex 123 Pattern Day Scalping Strategy is an indicator for MetaTrader 4 based on ZigZag. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 21 settings, such as Notes, Zig zag depth and Retrace depth min. MQL source code included.
Files in the download: 123 Day Trader.tpl, 123PatternsV6.ex4, 123PatternsV6.mq4, 123PatternsV7 Alerts.ex4, 123PatternsV7 Alerts.mq4, Day_Bar.ex4, Day_Expl_D1.ex4, Day_Heiken_Ashi.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Notes | 15pip RangeBars Basic Setup | |
| Zig zag depth | 1 | |
| Retrace depth min | 0.4 | |
| Retrace depth max | 1.0 | |
| Show all lines | True | |
| Show all breaks | True | |
| Show targets | False | |
| Target1 multiply | 1.5 | How much the lot size grows after a loss |
| Target2 multiply | 3.0 | How much the lot size grows after a loss |
| Hide transitions | True | |
| General settings | ================== 1-2-3 settings ===== | |
| Max no of candles | 1000 | |
| One two three settings | ================== 1-2-3 settings ===== | |
| Show all bull bear dots | false | |
| Alert settings | ================== ALERT settings ===== | Turn this alert on or off |
| Point2 break alerts | true | 123 setup |
| Break upper line alerts | true | not 123 setup |
| Break lower line alerts | true | not 123 setup |
| Popup alerts | true | Turn this alert on or off |
| Email alerts | false | Turn this alert on or off |
| Push notification alerts | false | Turn this alert on or off |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Scalping · Buy/Sell Arrows · Alerts · ZigZag · MT4 Indicator · MQL4 Source Code